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Wanting It Both Ways

October 19th, 2011 10:19 AM

Often we have used the phrase, "You can't have your cake and eat it, too." It can apply to real estate as well.

Today's sellers are well aware of the low market values and appraisals on homes and it is a difficult time for those who want or need to sell now. However, most of these same sellers are looking to buy something else when their home does close and they are looking to sell high and buy low. In any real estate market, this is not a realistic outcome.

The laws of supply and demand work for both a "sellers market", when there are more buyers than homes for sale, or in a "buyers market", when there is a large inventory of homes for sale and few buyers, as in our current market. When prices increase, the demand is high and supply is low; when prices go down, the demand is low and supply is high.

Many sellers will state that they refuse to "give their home away" but in the same breath will state that they expect another seller to accept a low offer on the home they wish to purchase. You cannot have it both ways. In any market, it all equals out.

If you need to sell now, you will most likely take a loss of some kind. However, no matter where you buy another property, you will be on the receiving end of a fantastic bargain and will save thousands on your new home.

You cannot "have your cake and eat it too" but you can focus on the positive aspects of today's real estate market and know that you really didn't lose that much after all.